Black Stone Minerals (NYSE:BSM) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Black Stone Minerals (NYSE:BSM) from a buy rating to a hold rating in a research note released on Friday morning.

Separately, Piper Sandler cut their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, November 18th.

Black Stone Minerals Stock Down 1.2 %

Shares of BSM stock opened at $15.38 on Friday. The stock has a market cap of $3.24 billion, a P/E ratio of 9.63 and a beta of 0.94. Black Stone Minerals has a fifty-two week low of $13.94 and a fifty-two week high of $17.80. The business has a fifty day simple moving average of $15.05 and a 200-day simple moving average of $15.25.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. The company had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. During the same quarter last year, the business posted $0.27 earnings per share. On average, sell-side analysts anticipate that Black Stone Minerals will post 1.32 earnings per share for the current year.

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.375 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.50 annualized dividend and a dividend yield of 9.75%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

Insider Buying and Selling at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. bought 100,000 shares of Black Stone Minerals stock in a transaction on Friday, September 6th. The shares were bought at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the acquisition, the chief executive officer now directly owns 3,133,128 shares in the company, valued at approximately $44,239,767.36. This represents a 3.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Black Stone Minerals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC acquired a new stake in shares of Black Stone Minerals during the 3rd quarter worth approximately $54,000. Summit Securities Group LLC bought a new stake in Black Stone Minerals in the second quarter valued at $74,000. SG Americas Securities LLC acquired a new position in shares of Black Stone Minerals during the first quarter valued at $102,000. Financial Advocates Investment Management bought a new position in shares of Black Stone Minerals during the second quarter worth about $159,000. Finally, Choreo LLC bought a new position in Black Stone Minerals in the 2nd quarter worth about $205,000. 14.49% of the stock is owned by institutional investors and hedge funds.

About Black Stone Minerals

Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.